SMERA launched
Small and Medium Enterprises Rating Agency (SMERA), was launched by the Finance Minister in Coimbatore yesterday.
SMEs contribute approximately 40 per cent of the country’s domestic production and 45 per cent of industrial employment. Despite their economic significance, SMEs face many bottlenecks like inability to access timely and adequate finance, insufficient credit information and low market credibility.
Rating agencies like SMERA will provide comprehensive, transparent and reliable SME ratings. SMERA has been set up by Small Industries Development Bank of India jointly with Dun & Bradstreet, Credit Information Bureau (India) Limited and some banks.